Heritage is a bridge to our past and a foundation for our future. SAVANI Heritage Conservation, led by the remarkable trio of Jagrut Vithal Savani, Ram Manji Savani, and Shantilal Jadavji Savani, is committed to preserving India's cultural legacy. This Mumbai-based company has already restored over 300 heritage monuments across 20 Indian states, bringing history to life and increasing heritage tourism across the nation.
The Founders: A Legacy of Dedication
- Jagrut Vithal Savani (Young) - Nephew of Manji Savani
- Ram Manji Savani (Middle-aged) - Nephew of Shantilal Savani
- Shantilal Jadavji Savani (Old) - The eldest of the family and a symbol of wisdom and experience
Their familial bond translates into their work ethos, where heritage conservation is not just a profession but a passion passed down through generations.
Achievements and Roadmap
Achievements
- Restored 300+ heritage monuments across India.
- Increased footfall at the Uparkot Fort, Junagadh, by 4 times, attracting 8 lakh visitors annually.
- Projects range from ₹2 lakh to ₹110 crore, showcasing their versatility and scale.
Future Roadmap (2030)
- Restore 1,000+ monuments to enhance India's cultural tourism.
- Promote heritage tourism by preserving historical sites with the same authenticity and feel.
Business Model and Clients
SAVANI Heritage Conservation specializes in restoring heritage buildings with meticulous care, ensuring they retain their original charm.
Client Split
- Private Bodies: 10-15%
- Government Bodies: 85-90%
Their strong focus on government projects ensures consistent demand and revenue.
Financial Highlights
Annual Sales
- FY22-23: ₹110 crore
- FY23-24: ₹124.7 crore
- FY24-25 (till Nov): ₹115 crore
- Projected FY24-25 Sales: ₹301 crore
Current Work Orders
- ₹850 crore worth of ongoing projects
- ₹450 crore in FY23-24 alone
Net Profit Margins
- FY21-22: 9%
- FY22-23: 9%
- FY23-24: 7.5%
- FY24-25 (till Nov): 12-15%
Other Financials
- Money in Bank: ₹1-2 crore
- Security Deposits for Government Contracts: ₹35 crore
The Sharks' Reactions
Initial Ask
- ₹3 crore for 1% equity, valuing the company at ₹300 crore.
Sharks' Offers
- Kunal Bhal: Opted out, citing the company already has the resources it needs.
- Namita Thapar: Opted out, highlighting the high-risk nature of the business.
- Anupam Mittal: Opted out, unable to understand the pitch's financial complexity.
Ritesh Agarwal's Offer
- First Offer: ₹1 crore for 1% equity + ₹2 crore debt at 10% interest for 3 years, valuing the company at ₹100 crore.
- Revised Offer: ₹1 crore for 0.8% equity + ₹2 crore debt at 10% interest for 3 years, valuing the company at ₹125 crore.
Outcome
The founders accepted Ritesh's revised offer, showcasing his belief in the company’s long-term potential.
SAVANI's Vision: Bridging History and Tourism
With a current ₹850 crore in work orders and a roadmap to restore 1,000+ monuments by 2030, SAVANI Heritage Conservation is paving the way for a robust heritage tourism industry in India. Their efforts not only preserve history but also contribute to the economy by enhancing the appeal of India's cultural landmarks.
The company stands as a beacon of hope for preserving India's rich heritage, ensuring future generations can connect with the past while boosting cultural tourism.